June 20, 2021

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They condemn poverty and the growth of millionaires in Latin America

June 4, 2021, 12:53 AMUN Deputy Secretary-General Luis Felipe Lopez-Calva says the number of millionaires in Latin America has risen by 31 percent as the United Nations faces a June 4 economic crisis and millions of families are struggling to survive.

In an article published on the United Nations website entitled The Epidemic Increases Inequality in Latin America and Makes More Millions, the senior official acknowledged that the region is the second most unequal in the world.

He noted that during the Govt-19 epidemics, economic and social inequalities grew, while at the same time they appeared to be rich.

Lopez-Calva noted in his analysis that millions of families in the region are seeing their incomes fall as a result of business closures and deterioration, rising unemployment and the outflow of labor and limited opportunities for long-distance employment. Prolonged imprisonment.

In addition, the lack of adequate safety nets for low-income, vulnerable and informal workers has led to a sharp rise in poverty in the region, which is projected to rise from 24 percent in 2019 to 27.6 percent in 2021, according to World Bank estimates.

There is also concern about rising hunger in the region, as there will be a 269 percent increase in the number of people facing severe food insecurity in Latin America and the Caribbean, according to the World Food Program.

Faced with this scenario, real-time data (May 17, 2021) show a net worth of $ 107 billion at $ 480 billion, a measure further confirmed by the Forbes list of the region’s richest who grew more than 40 percent so far during the Govt-19 epidemic. In particular, three-quarters of billionaires are from Brazil and Mexico, accounting for 80 percent of their total net worth.

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Lopez-Calva, who also serves as the regional director of the United Nations Development Program (UNDP), was considered in his study of taxing the wealthy, which may provide some of the resources needed to promote broader social and economic benefits.

When the concentration of resources translates into the concentration of political power, it often leads to a vicious circle that perpetuates those decisions and distorts strategies and funding allocations.

Finally, in his response, if the epidemic continues in the region, it will expose existing cracks in the social security nets, so a new way must be rediscovered, the crisis is much more equal and sustainable than it was before.

oda / crc